Tilray Inc. is expanding its production capacity through the acquisition of licensed cultivator Natura Naturals Holdings.
Tilray will buy the Leamington, Ontario-based cultivator for C$35 million, including C$15 million in cash and C$20 million in Class 2 stock once the deal is completed.
"Upon Natura reaching certain quarterly production milestones over the following twelve-month period, up to C$35 million of Tilray common stock may become payable resulting in a total purchase price of C$70 million if fully achieved," according to the press release.
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